OPEN-SOURCE SCRIPT
Updated BTC 3.0 1D Brick1232
Code consist of Qstick, DIP/DIM, ADX and RWI
The main indicators who are doing most of the work are Qstick and DIM/DIP.
For Qstick I created ranges and adapted it to BTC chart. If the Qstick crosses a defined range then it fires.
DIP/DIM fires if they cross each other.
After Qstick and DIP/DIM were created they were married to create a better signal with a AND-Function. But both were very unstable so i had to make them more robust with ADX for longs and additional marriage of DIM/DIP with RWI for shorts.
I noticed that Qstick performed very good in the big bull run so i created a mean-reversion add on to catch better entries and exits with defined ranges. If Qstick will alpha decay in the future then the mean reversion add on would be completely useless.
The main indicators who are doing most of the work are Qstick and DIM/DIP.
For Qstick I created ranges and adapted it to BTC chart. If the Qstick crosses a defined range then it fires.
DIP/DIM fires if they cross each other.
After Qstick and DIP/DIM were created they were married to create a better signal with a AND-Function. But both were very unstable so i had to make them more robust with ADX for longs and additional marriage of DIM/DIP with RWI for shorts.
I noticed that Qstick performed very good in the big bull run so i created a mean-reversion add on to catch better entries and exits with defined ranges. If Qstick will alpha decay in the future then the mean reversion add on would be completely useless.
Release Notes
Code consist of -Qstick,
-DIP/DIM
-ADX
-RWI
The main indicators who are doing most of the work are Qstick and DIM/DIP.
For Qstick I created ranges and adapted it to BTC chart. If the Qstick crosses a defined range then it fires.
DIP/DIM fires if they cross each other.
After Qstick and DIP/DIM were created they were married to create a better signal with a AND-Function. But both were very unstable so i had to make them more robust with ADX for longs and additional marriage of DIM/DIP with RWI for shorts.
I noticed that Qstick performed very good in the big bull run so i created a mean-reversion add on to catch better entries and exits with defined ranges. If Qstick will alpha decay in the future then the mean reversion add on would be completely useless.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.